Elon Musk-owned social media platform X (formerly known as Twitter) is soon likely to get a money transmitter license in New York.
The billionaire was speaking at the Morgan Stanley technology, media, and telecom conference, where he also confirmed that the company might obtain its California license within the next month. For the New York license, he noted that the process “could take a few months”.
Musk acknowledged the significance of obtaining approvals in thriving states such as New York and California, due to their relatively lengthy approval processes. Notably, other states, including Pennsylvania and Utah, already granted money transmitter licenses to X.
Once the licenses are approved, it would take X a step closer to being an “everything app” similar to China’s WeChat (Tencent-owned), as envisioned by Musk when he took over the site in 2022.
Musk envisions expanding X’s features beyond social media, incorporating functions like sending money to fellow users on the platform. Experts revealed that for X to offer services across the country, it will need a money transmitter license in each of the United States’ 50 states.
During the conference, Musk, who also oversees Tesla and Space X, mentioned that X is contemplating removing the visibility of likes and reposts on each post. He cited concerns about visual mess on the platform, suggesting a potential shift in the user experience.
On February 29, Musk announced a new feature on X, where the site’s recommendation algorithm will ensure that all of a user’s followers see their pinned post every 48 hours. As tried and tested to deter “gaming of the system”, Musk also said that this will only apply to one pinned post every two days.
As part of his “everything app” plans, Musk also shared a post by X Hiring which stated that over a million job postings have been posted across various industries on the social media site, hailing it as a jobs app.
“There are more than 1 million job postings live on X right now! Companies across AI, financial services, SaaS, and more are finding qualified candidates using X Hiring every day,” a post by X Business read.
Since its inception in August 2023, X Hiring is part of a broader strategy to diversify the X offerings. Initially launched for business profiles within its Verification for Organizations package, X Hiring reported rapid growth.
In January’s first week, the microblogging platform announced the availability of 750,000 positions advertised in the app, with the additional 250,000 coming within a matter of weeks.
Elon Musk’s Allegations Against OpenAI
Just a day after Sam Altman’s OpenAI issued its statement in response to Elon Musk filing a lawsuit against the company, the billionaire again attacked the chatGPT maker and proposed a ceasefire in the legal battle.
Elon Musk declared on X (formerly Twitter) that he would drop the lawsuit against OpenAI if they agreed to change its name to ‘ClosedAI’. The tweet is going viral, with more than 1.3 million views already in a few hours.
Elon Musk sued OpenAI last week, claiming that the startup strayed from its original goal of creating artificial intelligence for the good of humanity rather than for financial gain. The California Superior Court in San Francisco received the lawsuit.
Musk is suing OpenAI for breach of contract, stating that the startup, which was founded in 2015, is now primarily focused on making money, despite his requests to establish an open-source, nonprofit organization from co-founder Greg Brockman and Sam Altman.
Elon Musk claims that the three OpenAI founders first chose to concentrate on artificial general intelligence (AGI), or the theory that machines could carry out tasks that humans would find difficult to “benefit humanity,” as expressed in the lawsuit.
Musk is asking for a court order that would force OpenAI to make its technology and research available to the general public and forbid the startup from using any of its assets—including GPT-4—for Microsoft or any other party’s financial gain.
Top OpenAI officials refuted multiple assertions made by Elon Musk in his lawsuit, according to a memo published last week. “It was never going to be a cakewalk. The attacks will keep coming,” OpenAI CEO Sam Altman wrote.
“In late 2017, we and Elon decided the next step for the mission was to create a for-profit entity. Elon wanted majority equity, initial board control, and to be CEO,” in its statement amid Elon Musk’s lawsuit, OpenAI said.
OpenAI refuted the claims that its primary mission changed from when Musk was still on board.
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